Alberta Finance Minister, Joe Ceci, released the provincial government's third quarter fiscal update and an outlook on the economy on Wednesday.
Ceci spoke at a technical briefing in Edmonton and says growth in exports, consumer spending and rebounding oil prices indicate that Alberta’s economy is improving.
He says the province’s GDP growth led the country at 4.5 percent in 2017and that it is expected to be stronger in 2018.
“Alberta’s economic growth and broad-based recovery show that we made the right choice in the face of the worst recession in a generation. Our choice to invest in Albertans, build infrastructure and carefully find savings—without firing thousands of teachers and nurses—is paying off,” he said in a statement.
Growth in the private sector created almost 90,000 full-time jobs over the last year and the unemployment rate is predicted to be 6.8 percent for this year.
The deficit has dropped by $1.4 billion and is now expected to be $9.1 billion and Ceci says it can be attributed to cost reductions and improvements in revenue.
To read the 2017-18 Third Quarter Fiscal Update and Economic Statement, click HERE or scroll the document below.
